US Investor keeps calm and hammers on

Lismore Real Estate Advisors have advised a US REIT on the purchase of a prime retail warehousing unit in Perth.

The property occupies a prominent 5 acre site situated in close proximity to the A85 and A9 – the principal arterial route leading to the north of Scotland.

The modern 61,380 sqft DIY store has been occupied by B&Q Limited since PC in 2006. The tenant recently extended its lease by a further 10 years from 31st January 2022 off a new rent of £12.50 sqft.

It was purchased for a price in the region of £12.25 million which reflected a net initial yield of circa 5.90% and a capital value of £200 sqft.